H.B. 2140 Summary

• Requires the Department of Business, Economic Development, and Tourism (DBEDT) to develop and implement an investment in innovative technologies plan focused on energy, transportation, agriculture, and water sectors.

• Plan must identify and provide investment funds or grants to private entities whose innovative technology work furthers Hawaii's clean energy and sustainability goals and benefits the state's economy.

• Plan shall be updated annually by DBEDT and published on the department's website by January 31 each year.

• DBEDT may contract with a Hawaii-based nonprofit organization to develop, implement, and evaluate the plan in accordance with Hawaii Revised Statutes chapter 103D.

• Appropriates funds from general revenues for fiscal year 2020-2021, with separate allocations designated for administrative costs and contract expenses; takes effect July 1, 2112.